Coterra Energy Inc. (NYSE:CTRA) Shares Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. grew its stake in Coterra Energy Inc. (NYSE:CTRA) by 3.1% during the third quarter, Holdings Channel.com reports. The fund owned 55,968 shares of the company’s stock after acquiring an additional 1,703 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Coterra Energy were worth $1,340,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CTRA. Fortitude Family Office LLC boosted its holdings in Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares during the period. Larson Financial Group LLC grew its stake in shares of Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after acquiring an additional 535 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Coterra Energy in the first quarter worth $44,000. Tobam purchased a new stake in shares of Coterra Energy during the third quarter worth $63,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after acquiring an additional 557 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Down 0.6 %

Shares of Coterra Energy stock opened at $23.85 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. The company has a market capitalization of $17.75 billion, a P/E ratio of 13.79, a PEG ratio of 1.41 and a beta of 0.22. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $28.90. The company’s fifty day moving average is $23.84 and its two-hundred day moving average is $25.82.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the business earned $0.38 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Analysts forecast that Coterra Energy Inc. will post 1.72 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CTRA shares. Piper Sandler cut their price target on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. UBS Group cut their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Wells Fargo & Company lowered their price target on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. BMO Capital Markets upgraded shares of Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Finally, Susquehanna lowered their target price on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $32.06.

About Coterra Energy

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.